Chile to double its lithium output to avert risk of batteries substitution

Brine evaporates in pools at the lithium extraction plant facilities of the SQM Lithium company near Peine, Chile, Tuesday, April 18, 2023. In the "lithium triangle” - a region spanning Argentina, Chile and Bolivia - native communities sit upon a treasure trove of the stuff: an estimated trillion dollars in lithium. (AP Photo/Rodrigo Abd)

SANTIAGO: For a global lithium industry still reeling from gluts along the battery supply chain, the greater long-term risk is producing too little of the metal rather than too much, according to the world’s No. 2 producer, Chile.

More threatening than oversupply in the coming years is the risk of a renewed shortage, which would send prices soaring and make alternative battery technologies more viable, the South American nation’s finance minister said.